Income Redistribution Soars, so do our tax bills

Private pay shrinks to historic lows

By Dennis Cauchon, USA TODAY

      Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.

      At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.

     Those records reflect a long-term trend accelerated by the recession and the federal stimulus program to counteract the downturn. The result is a major shift in the source of personal income from private wages to government programs.

     The trend is not sustainable, says University of Michigan economist Donald Grimes. Reason: The federal government depends on private wages to generate income taxes to pay for its ever-more-expensive programs. Government-generated income is taxed at lower rates or not at all, he says. "This is really important," Grimes says.

We were forewarned, we knew that is what he wanted to do.  We MUST get enough people elected to stop this change of our country from free enterpise to socialism, or worse.

Maybe Tom Friedman does Understand Capitalism, after all

In today's New York Times column he talks about some who are innovating and moving forward even with the recession.

Dreaming the Possible Dream

The thing I love most about America is that there’s always somebody who doesn’t get the word — somebody who doesn’t understand that in a Great Recession you’re supposed to hunker down, downsize and just hold on for dear life. I have a couple of friends who fit that bill, who think a recession is a dandy time to try to discover better and cheaper ways to do things. They both happen to be Indian-Americans — one a son of the Himalayas, who came to America on a scholarship and went to work for NASA to try to find a way to Mars; the other a son of New Delhi, who came here and found the Sun, Sun Microsystems. Both are serial innovators. Both are now shepherding clean-tech start-ups that have the potential to be disruptive game changers. They don’t know from hunkering down. They just didn’t get the word.

Read it all, it will make you feel better. He doesn't seem to understand we don't need to change the atmosphere, but as long as that is what they are trying to do, they are using the by-products of combustion in a very innovative, capitalistic way. Now I wish he would understand the very fraudulent way global warming has been pushed on us.

George W. Speaks

Bush warns of threats to freedom, economic growth

By Joseph Curl

Former President George W. Bush, outlining plans for a new public policy institute, on Thursday said America must fight the temptation to allow the federal government to take control of the private sector, declaring that too much government intervention will squelch economic recovery and expansion.

With the Obama administration establishing far-reaching controls in the auto, real estate and financial sectors, Mr. Bush said that "the role of government is not to create wealth, but to create the conditions that allow entrepreneurs and innovators to thrive." ....

"I believe in the power of the free enterprise system, which made the decision I faced last fall one of the most difficult of my presidency. I went against my free market instincts and approved a temporary government intervention to unfreeze credit and prevent a global financial catastrophe," he said. (ed.emphasis)

This is from the Washington Times, via Drudge Report. You will want to read it all.